PENCOM REPORTS: ONLY 8.41% OF NIGERIANS CONTRIBUTE TO PENSION SCHEME

Written by on February 19, 2019

Analysis have shown that out of the over 70 million people that represent the working population in Nigeria, only 8.41 million of them are currently making contributions into the Contributory Pension Scheme.

The 8.41 million contributors, according to figures obtained from the National Pension Commission, are about 12.09% of the country’s working population.

These figures are contained in a document sent by the Acting Chairman of PenCom, Aisha Dahir-Umar, to an ad hoc committee of the House of Representatives set up to investigate the activities of the commission.

The Contributory Pension Scheme commenced in 2004 with the key objectives to assist individuals to save to cater to their livelihood during old age.


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